Despite an off day for the market, shares of Jabil Circuit ( JBL) skyrocketed Thursday after the company's revenue and guidance surpassed Wall Street expectations , and an analyst upgraded the stock to buy. Shares of the electronics manufacturing services company shot up 9.91%, or $3.79, to $42.03 in recent trading. "With consistent top- and bottom-line performance, impressive return on invested capital, careful customer diversification and solid prospects for the balance of fiscal 2006 and beyond, Jabil continues to prove why it is regarded among the upper echelon of the EMS industry," Needham & Co. Analyst Richard Kugele wrote in a research note on Thursday. Kugele noted that Jabil's growth should exceed 30% for fiscal 2006, sustaining a steady 20%-25% growth rate over the next couple of years. He set a 12-month price target of $46. The analyst has received compensation from the company based on a variety of factors, including investment banking. After the bell on Wednesday, Jabil reported that its second-quarter revenue increased 35%, amassing $2.31 billion in revenue, up from $1.7 billion in the same quarter last year. Excluding certain items, the company made $78.7 million, or 37 cents a share, compared with $54.9 million, or 27 cents a share, in the same quarter last year. Jabil also raised its guidance for the third quarter, estimating revenue between $2.5 billion and $2.6 billion, or 43 cents a share. For the full-year, the company forecast earnings of $1.70 on revenue of $9.9 billion. On Thursday, a number of analysts reiterated their buy ratings and heaped glowing praise on the company. "It was an impressive quarter all the way around," said Richard Stice, an equity analyst with Standard & Poor's, who rates the company buy and raised his fiscal 2006 forecast by 2 cents to $1.54 a share. Stice also upped his 12-month target price by $2 to $46.